Pacer Advisors Inc. Sells 711,145 Shares of Liberty Energy Inc. (NYSE:LBRT)

Pacer Advisors Inc. cut its position in shares of Liberty Energy Inc. (NYSE:LBRT) by 10.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,049,314 shares of the company’s stock after selling 711,145 shares during the quarter. Pacer Advisors Inc. owned 3.63% of Liberty Energy worth $126,370,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Canada Pension Plan Investment Board lifted its stake in Liberty Energy by 345.4% during the second quarter. Canada Pension Plan Investment Board now owns 573,200 shares of the company’s stock worth $11,974,000 after purchasing an additional 444,500 shares during the period. Benjamin Edwards Inc. lifted its position in Liberty Energy by 9.6% during the 2nd quarter. Benjamin Edwards Inc. now owns 27,724 shares of the company’s stock worth $579,000 after buying an additional 2,429 shares in the last quarter. MQS Management LLC grew its holdings in Liberty Energy by 18.4% during the 2nd quarter. MQS Management LLC now owns 17,643 shares of the company’s stock worth $369,000 after acquiring an additional 2,738 shares during the last quarter. First Eagle Investment Management LLC increased its position in Liberty Energy by 144.2% in the 2nd quarter. First Eagle Investment Management LLC now owns 272,467 shares of the company’s stock valued at $5,692,000 after acquiring an additional 160,900 shares in the last quarter. Finally, Hsbc Holdings PLC raised its stake in shares of Liberty Energy by 13.1% in the second quarter. Hsbc Holdings PLC now owns 78,994 shares of the company’s stock worth $1,657,000 after acquiring an additional 9,137 shares during the last quarter. Institutional investors own 98.22% of the company’s stock.

Liberty Energy Price Performance

Shares of LBRT opened at $20.94 on Friday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.07 and a current ratio of 1.35. The firm has a market capitalization of $3.49 billion, a PE ratio of 7.64, a P/E/G ratio of 1.11 and a beta of 1.69. The stock has a 50 day simple moving average of $20.79 and a 200 day simple moving average of $21.45. Liberty Energy Inc. has a 52-week low of $16.33 and a 52-week high of $24.75.

Liberty Energy (NYSE:LBRT) last announced its earnings results on Wednesday, July 17th. The company reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.01. Liberty Energy had a net margin of 9.53% and a return on equity of 22.85%. The firm had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.16 billion. During the same period in the prior year, the business earned $0.87 EPS. The company’s revenue for the quarter was down 2.9% compared to the same quarter last year. Sell-side analysts predict that Liberty Energy Inc. will post 2.17 EPS for the current fiscal year.

Liberty Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, September 6th were issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 1.34%. The ex-dividend date was Friday, September 6th. Liberty Energy’s payout ratio is 10.22%.

Insider Activity at Liberty Energy

In other Liberty Energy news, CFO Michael Stock sold 20,000 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $22.92, for a total transaction of $458,400.00. Following the sale, the chief financial officer now directly owns 765,207 shares of the company’s stock, valued at approximately $17,538,544.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Over the last 90 days, insiders sold 100,000 shares of company stock valued at $2,084,231. Corporate insiders own 3.60% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on LBRT shares. TD Cowen decreased their price target on shares of Liberty Energy from $21.00 to $20.00 and set a “hold” rating on the stock in a research note on Friday, July 19th. Bank of America decreased their price objective on Liberty Energy from $24.00 to $22.00 and set a “neutral” rating on the stock in a research report on Monday, July 15th. Piper Sandler cut their price target on Liberty Energy from $28.00 to $25.00 and set an “overweight” rating on the stock in a research note on Monday, July 15th. Barclays cut their target price on Liberty Energy from $27.00 to $26.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 23rd. Finally, Citigroup raised Liberty Energy from a “neutral” rating to a “buy” rating and upped their price target for the company from $24.00 to $32.00 in a research note on Wednesday, May 29th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Liberty Energy has an average rating of “Moderate Buy” and an average price target of $24.78.

Liberty Energy Profile

Liberty Energy Inc provides hydraulic services and related technologies to onshore oil and natural gas exploration, and production companies in North America. The company offers hydraulic fracturing services, including complementary services, such as wireline services, proppant delivery solutions, field gas processing and treating, compressed natural gas (CNG) delivery, data analytics, related goods comprising sand mine operations, and technologies; and well site fueling and logistics.